It’s four more years for Jefferson

Turns out, maybe Richard Jefferson knew what he was doing when he opted out of the final year of his contract earlier this summer.

Jefferson gave up $15.2 million guaranteed, but parlayed free agency into a new four-year deal with the Spurs worth up to $38.9 million.

All along, Jefferson’s agent, Todd Eley, said his client chose to enter free agency in order to secure a long-term contract in lieu of hitting the market next summer, when the NBA’s CBA expires and the salary rules will be re-shuffled.

Jefferson met his goal with the Spurs. He is due to earn $8.4 million next season, basically taking a 50-percent pay cut. He will make about $9.2 million in 2011-12 and $10.16 million in 2012-13. The deal is worth $11.046 million in 2013-14, and comes with a player option for that season.

“His goals were to try and reach a long-term agreement,” Spurs general manager R.C. Buford said. “I think we were able to accommodate what we were looking to do and meet his goals as well.”

Jefferson’s decision to opt out will lessen the Spurs’ luxury tax burden next season, and could eliminate it entirely depending on how the remainder of the payroll shakes out. After paying a club-record $8.4 million tax bill for last season, the Spurs now have a chance to get their payroll to a more financially sound level.

“It helps us build our team,” Buford said. “There might have been some opportunities we might have been limited with (had Jefferson not opted out).”

Jefferson decision to return to the Spurs, instead of signing with another team, is significant as well.

The Spurs were hamstrung by salary cap restrictions in what they could offer an outside free agent, limited to the $2.4 million leftover from the mid-level exception. Though Jefferson struggled at times last season, there aren’t many 12.3-point-per-game scorers available at that price.

“We wouldn’t have been as good a team had Richard decided to play some place else,” Buford said.